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Yandex To Raise Up To $2 Billion at IPO In Fall 2008

Files under: News, Tech, Web 2.0
Posted by: Quintura @ 23:36 [20. 05. 08]

The leading Russian search engine Yandex is expected to raise up to $2 billion at initial public offering (IPO) of shares in New York in the upcoming autumn based on the company’s preliminary valuation of $5 billion, according to Reuters. Yandex is said to have mandated the investment banks Morgan Stanley, Deutsche Bank and Renaissance Capital to manage its IPO on NASDAQ.

Yandex topped both Yahoo! and Microsoft with 528 million (or 2.2 percent of European searches) in March 2008, according to comScore. Yandex reaches over 62% of Russian internet audience with more than 47% of all searches conducted in Russia, followed by Google, Rambler, and Mail.ru. Yandex reported revenues of $167 million in 2007. The company was founded by its current managers CEO Arkady Volozh and CTO Ilya Segalovich more than 10 years ago and only raised $5.3 million from private equity investors back in 2000.

Google‘s co-founder Sergey Brin admitted in an interview to a Russian newspaper that Yandex “has many talented people”. Google is estimated to have twice less daily searches in Russia than Yandex.

Russia is expected to become the 2nd largest Internet market in Europe by the end 2008 with the country’s online advertising spending forecasted to double in 2008.

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9 Responses to «Yandex To Raise Up To $2 Billion at IPO In Fall 2008»

  1. 1 Report: Russian Search Leader Yandex Set for Massive IPO Quintura @ 23:36 [20. 05. 08]

    [...] in Russia (Google is second), with revenues of $167 million last year. Yakov over at Quintura notes that the company has about 2.2% of the total European search market, which beats both Yahoo and [...]

  2. 2 The Biggest Tech IPO of 2008 Is Coming Out of Russia: Search Engine Yandex to Raise Up To $2 Billion Quintura @ 23:36 [20. 05. 08]

    [...] 15 years ago and the last funding I can find was only $5.3 million back in 2000, according to Quintura CEO Yakov Sadchikov (Quintura is a smaller search engine also based in Russia). If that is all the company raised, it [...]

  3. 3 TechCrunch Japanese ????? » 2008????????IPO?????????????Yandex???$2B??? Quintura @ 23:36 [20. 05. 08]

    [...] ????Google????Yandex???Yandex???Nasdaq??IPO??????$1.5B?15?????$2B?20???????????????????????????????????$5B?50???????????????Quintura?CEO Yakov Sadchikov?Quintura????????????????????????Yandex?15???????????????????????2000????????$5.3M?530????????????????????????????????????????ru-Net Holdings?Baring Vostok Capital Partners?Tiger Technologies?3???????????????? [...]

  4. 4 Russia’s Top Search Engine Yandex Raising Funds via IPO Quintura @ 23:36 [20. 05. 08]

    [...] ago. It beats both Yahoo and Microsoft in March 2008 getting 522 million or 2.2 percent of all European searches conducted during the period, based on comScore data. It also got 47% of all searches conducted in [...]

  5. 5 Russian search engine Yandex goes to Times Square, where billion waits Quintura @ 23:36 [20. 05. 08]

    [...] engines, comfortably next to Google. The CEO of visual search engine Quintura Yakov Sadchikov keeps us to date by emailing the latest on Europe’s third search market. Well, today is one special day for the [...]

  6. 6 eTc :: El blog de Marketing en Espa?ol » Blog Archive » Mosc? 2.0 de Google en Rusia Quintura @ 23:36 [20. 05. 08]

    [...] calles de Berl?n. En esta ocasi?n ha empezado a hacer lo mismo en Rusia, para quitarle mercado a Yandex, que es el buscador l?der en ese mercado. Para ello, Google ha iniciado una campa?a, que con el [...]

  7. 7 Learn from Quintura: use corporate blogging to get on Techmeme Quintura @ 23:36 [20. 05. 08]

    [...] Like TechCrunch. Erick Schonfeld based his article about the biggest tech IPO of 2008 on this story. And Arrington found out about Google’s weird outdoor campaign by browsing on the Quintura [...]

  8. 8 Quintura blog » Blog Archive » Yandex IPO Plan On Track Quintura @ 23:36 [20. 05. 08]

    [...] company was expected to raise up to $2 billion at IPO on NASDAQ in fall 2008. The leading Russian search engine Yandex, [...]

  9. 9 Campagne publicitaire Google en Russie : Moscow 2.0 Quintura @ 23:36 [20. 05. 08]

    [...] sur le sol russe et 2 fois plus de requ?tes quotidiennes que son rival am?ricain (source : Quintura blog). Les revenus g?n?r?s par Yandex en 2007 s’?l?vent ? 167 millions de dollars. Nuls doutes [...]